Today I am taking yet another leap towards financial independence. We are scheduled to close today on the refinance with our local credit union. We are taking what is left of 29 years of monthly payments and reducing it down to 15 years. The interest rate will be going from 4.7% down to 3.1%, and paying 198.00 each month for mortgage insurance will be a thing of the past. This deal did require us to pay down the balance of the loan an additional 5,500.00 and it cost several thousand in cost to do the loan, but in the grand scheme of things will be saving greatly.
I have taken off of work today to get everything prepared for the signing of these documents today. Going through this process many times before I have learned that their is a certain amount of stress when dealing with any financial institution and it is well worth losing a days pay to help reduce this stress.
After this transaction is complete I can take a better look at the option of paying of the last two balances of debt owed. It would be wonderful to start out a new year with “No Debt”, other than the new 15 year mortgage.
Financial freedom begins when you have no debt and pay no interest to any one person or institution. This is the ultimate goal, and to declare complete independence in retirement is to live this way with personal finances. This is what I am working towards.
Today I am breaking back into a resistance routine with just working my triceps. I am feeling no pain at all in my right shoulder and I feel that the time is right. I will save the bicep part of this routine for tomorrow. As mentioned in earlier posts, I have decided to reduce the weight on many of the routines down to safe level that would prevent any type of injury. I will work each rep of each set slow and steady making sure to take the last rep to it’s limit.
3:30 AM – Blood Sugar – 89, Weight – 170.4
Bowflex – ARMS – TRICEPS
Tricep Pulldown – 60/60- 13, 14, 10
Dips – 155/155- 15, 16, 16